What are the different types of Orders
The different type of Orders are listed below for easy reference
Limit Order - An order placed at a specific Price
Market Order - An order placed at 'Market' to ensure that the order is traded at any price prevailing in Market
Stop Loss Market Order - An order placed to be triggered at a particular level and be bought or sold at market after being triggered. For example, an order placed with a trigger at 100 and sold at 0 implies that the order will be active when the price of the instrument moves to 100 and be sold at whatever price it quotes in market, may be at 101 or 98, 97 or 90 etc., depending on the market scenario
Stop Loss Market Order - An order placed to be triggered at a particular level and be bought or sold at price mentioned in the limit price field, after being triggered. For example, an order placed with a trigger at 100 and sold at 99 implies that the order will be active when the price of the instrument moves to 100 and be sold at any rate at or above 99. In case, the order gets triggered at 100 but due to volatility it immediately slipped down to 98, the order will not be executed (though triggered) as there is a limit to sell only at or above 99.
IOC - Immediate or Cancel. This order will be executed if there are buyers or sellers at the price mentioned, else will be cancelled immediately. For example if you place a IOC order to 1000 shares at 100 and there are 800 buyers at 100 in the market, the order for 800 numbers will be executed and the remaining 200 will be immediately cancelled.
AMO - AMO or After Market Orders can be placed in both the trading platforms, Rocket Plus and Rocket. Read Here for AMO timing.
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